§1352. Retirement benefits

1.Amount.
The service retirement allowance of a member is determined under the provisions
of this chapter in effect on the member's date of final termination of service. Subject
to the maximum benefit provided for in subsection 3-A and the minimum benefit provided
for in subsection 4, the total amount of the retirement allowance of a member retired
in accordance with section 1351 is equal to the sum of:

A. 1/50 of the member's average final compensation multiplied by the number of years
of membership service, from December 1, 1984 to June 30, 1998 and creditable service
allowed under section 1302, subsection 3; [1997, c. 643, Pt. M, §12 (AMD).]

B. The earned benefit for prior service as a judge as determined by subsection 2; and [1997, c. 643, Pt. M, §12 (AMD).]

C. Three percent of the member's average final compensation multiplied by the number
of years of membership service beginning July 1, 1998. [1997, c. 643, Pt. M, §12 (NEW).]

[
2001, c. 439, Pt. VV, §1 (AMD)
.]

2.Benefit for service prior to December 1, 1984.
The earned benefit for judicial service prior to December 1, 1984, is equal to the
years of service prior to December 1, 1984, not to exceed 10 years, divided by 10,
multiplied by 75% of the salary as of November 30, 1984, for the position from which
the judge retired.

[
1997, c. 643, Pt. M, §12 (AMD)
.]

3.Maximum benefit.

[
2001, c. 439, Pt. VV, §2 (RP)
.]

3-A.Maximum benefit.
Except as provided in subsection 4, a judge in service on December 1, 1984, or appointed
on or after December 1, 1984, may not receive a benefit that exceeds 70% of that judge's
average final compensation, not including adjustments under section 1358. The benefit
amount of any judge retired prior to the effective date of this subsection whose benefit
amount was limited according to the terms of former subsection 3 must be recalculated
according to this subsection and the recalculated amount must be paid retroactive
to the judge's effective date of retirement.

[
2001, c. 439, Pt. VV, §3 (NEW)
.]

4.Minimum benefit.
Each judge in service on December 1, 1984, who is 50 years of age or older on that
date is entitled to a minimum benefit equal to 75% of the salary as of June 30, 1984,
for the position from which the judge retired, increased by 6% compounded annually,
for each year or part of a year served subsequent to June 30, 1984, up to and including
June 30, 1989. For each year or part of a year served after June 30, 1989, the allowance
is increased by an amount equal to the cost-of-living factor granted the previous
September, as determined pursuant to section 1358, compounded annually.

[
1997, c. 643, Pt. M, §12 (AMD)
.]

5.Termination of benefits.
The service retirement benefit of a judge ceases upon the return to service as a
judge. A judge returned to service continues to earn credit toward retirement.